I approached a real eastate company about selling my house.
The listing agreement started in May 06. I thought it was originaly for 6 mo. I do know for a fact that in the copy I had there was no mention of comission at all let alone it being 7%. All of this information was suppose to be on pp3.
Here's the meat and potatoes of the whole thing.
After about 6 months, I lost or misplaced the listing agreement and I ask him to email me a copy. When I received the copy, on pp3 it had a listing period from May 06 to May 07 (1 yr.) and a 7% comission fee on it.
I strongly suspect that this page has been amended because I would have questioned a 7% comission.
I sent him a return certified letter about 2 weeks ago stating:
Please except this letter as notice to terminate our listing agreement starting 1/8/07. Also please remove my information from the Central Showing Services Company.
I need to know can this agreement be broken any kind of way?
I don't want to use a relator.
2007-01-27 18:28:28 · 7 answers · asked by Ken G 1 in Business & Finance ➔ Renting & Real Estate
A one year listing-- most listings are for a 3-6mo. time frame. I would tear my house apart looking for the original documents. That being said if you cannot find them I would go to the Realtor and demand to see the original docs. Then if you find discrepancies by comparison I would immediately demand a UNCONDITIONAL release of contract. As for the 7% well its no uncommon and not unreasonable. Again refer to the above statement. If all this fails, go to the Real Estate Board and lodge a complaint. Works wonders when someones license may be suspended due to unethical practices.. This is my advise. Use the chain of command, one person at at time from the bottom up until you get the results you need.
2007-01-28 03:12:23 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Hopefully Kevin H ( the post above) is an attorney. Its illegal to practice law without a license.
First off, every listing agreement I've ever seen will state what fee or commission will be charged in the event the home sells. And I find it hard to believe that a fee wasn't even discussed at the time of signing.
Secondly, a listing agreement is a legally binding contract. It must have a beginning date, an ending date, and signatures of both parties. There is also a "protection period" which protects the brokerage if the home sells within a certain time after the listing expires.
That being said, no you cannot cancel a listing agreement just because you changed your mind and don't want to use a Realtor. If you feel that the contract has been altered since you've signed it, you can ask your agent to see the original. If he/she doesn't have it, their broker should.
What you can do is ask the broker for a release, explaining the reasons for your dissatisfaction. If the problem cannot be fixed, then they will probably grant you the release, and not risk having an unhappy client.
2007-01-27 20:33:51 · answer #2 · answered by Hoopfan 6 · 0⤊ 0⤋
Termination of agreements depends on state laws. I think in most cases the real estate agency would have to do something that breaks their part of the agreement for you to have grounds for termination. (If you could find your old copy and it doesn't match the new one then you'd have grounds to terminate...or at least be able to go back to the original). No matter where you live, a good lawyer could probably help you to terminate the contract; but that could easily cost more than the 7% commission fee. If your house has been on the market since May of 06 I doubt they are going to manage to sell it by May of this year; they can't charge commission if they don't sell. Considering that it hasn't sold already, I'd question if they are really trying that hard to sell it.
2007-01-27 18:41:02 · answer #3 · answered by laetusatheos 6 · 0⤊ 0⤋
If you are trying to cancel this agreement, because you don't want to use a Realtor, is not an acceptable explanation to the broker to cancel this contract. Since you commited to sell your house, by signing the listing agreement. Maybe try a different approach when speaking w/ the broker. You may cancel this agreement if the Listing company (agent) has breached the contract. Ask your self, Has the agent performed as per contract?? Now if you feel that this listing contract has been altered, ask for the original NOT a copy. If they altered this contract they have broken this contract and you might be able to go free w/ no obligations.
2007-01-27 20:58:52 · answer #4 · answered by BEJARANO 2 · 1⤊ 0⤋
You need to by-pass the agent you are using (it sounds as if he has never responded to your request for release?) and speak with his broker in charge. Most will release you from the agreement given that you explain the situation. You may incur fees for the marketing that has been involved up to this point, much less than the 7% commission though).
2007-01-27 18:38:33 · answer #5 · answered by Rachel B 1 · 0⤊ 0⤋
needless to say the occupants observe to everyone residing on the valuables, yet usually such observe is used while the occupants are renters. this does not advise that the renters should not be waiting to be faraway from the valuables in case you pick to purchase, yet purely that the tenants of the valuables are no longer in a position to respond to something correct to the valuables and the tenant ought to take delivery of ideal observe only before any inspection of the valuables. hence you're the two incorrect, yet your boyfriend is closer.
2016-09-28 02:20:12 · answer #6 · answered by ? 4 · 0⤊ 0⤋
Unless you are a professional athlete you should terminate by waiting until the contract you signed expires.
2007-01-27 18:55:01 · answer #7 · answered by Dac 2 · 0⤊ 1⤋